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As a Result of Continued Fiscal Strength, MLMIC Declares New Dividend

Nov 14, 2016

NOTICE: As the Berkshire Hathaway transaction has progressed, timelines and other details have been updated. Though accurate at the time of publication, this post no longer contains the most current information. Please click here for an update.

We’re pleased to let you know that MLMIC’s board has declared a new 20% general dividend for policyholders. The dividend — which will apply to policyholders who are insured on May 1, 2017, and maintain continuous coverage through July 1, 2017 — will be based upon the annual rate of premium in effect on May 1, 2017. It will provide meaningful financial relief to policyholders.

The board’s decision to declare this dividend is based on MLMIC’s statutory admitted assets of approximately $5.8 billion, a surplus of $1.9 billion and statutory net income of approximately $100 million. These figures, available in the company’s September 30, 2016, statutory financial statement, show the company’s overall financial condition remains sound.

2 thoughts on “As a Result of Continued Fiscal Strength, MLMIC Declares New Dividend”

Does the above mean that the agreement with Birkshire Hathaway will be concluded by the end of 2018, not 2017 as I preciously understood?
If I retire by the end of2017, do I still get my 2 year (2015-2016) payment for the take over?

We are still on track to complete the Berkshire transaction by the end of 2017. Should you retire at the end of 2017 and were eligible for the payout (as described in frequently asked question number 5 here: https://www.mlmic.com/mlmic-joins-berkshire-hathaway-faq/), your retirement will not affect your payout.